According to a March report by the Kenya National Bureau of Statistics, imports from the Middle East amounted to Kshs 32.3 billion in Q1 2023, surpassing the existing import bill of goods from China of Kshs 30.34 billion. Saudi Arabia topped the list as Kenya’s largest import market in terms of the value of goods due to the increase in global oil prices. This comes after President Ruto signed a deal with the Saudi Arabian government to source diesel and jet fuel from the country, dropping the United Arab Emirates market for these products.
China has dominated the import sector in Kenya for over ten years, with the main exports to Kenya being iron and steel, plastics, machinery, vehicles, and electrical appliances. According to the Kenya Trade Network Agency report released at the end of Q4’2022, China’s exports to Kenya dropped by 10% from the previous year, with total imports from China amounting to Kshs 110.7 billion in 2022 from Kshs 122.4 billion recorded in 2021.
Read more: Kenyan Avocados Sold At The Largest Fruit Market In East China
Imports from Saudi Arabia include mineral fuels, fertilizers, organic chemicals, and plastics. The value of these products has caused the import bill for Saudi Arabia’s imports into Kenya to shoot beyond markets like China and India.
However, regarding the quantity of goods imported into the country, China tops the list, followed by India. Oil prices in Kenya are projected to keep rising with the proposed increase in the fuel levy to 16% from the existing 8% when the finance bill is passed in the next financial year. This will further increase the value of imports from Saudi Arabia and the Middle East since they mainly comprise petroleum products.
Email your news TIPS to editor@thesharpdaily.com
